Orders for US durable goods fell 3.4 percent in December

Orders for long-lasting manufactured goods dropped sharply in December, dragged lower by a big decline in demand for commercial aircraft.

The Commerce Department says orders for durable goods fell 3.4 percent in December following a 2.1 percent decline in November. The weakness was led by a 55.5 percent plunge in the volatile category of commercial aircraft.

There was also weakness in a number of areas, and a key category that serves as a proxy for business investment plans edged down 0.6 percent in December after a similar decline in November and a 1.8 percent fall in October.

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The Associated Press contributed to this report.